Domani Taps Chainlink to Power Institutional Crypto Pricing
At Domani, we are committed to building reliable and robust decentralized financial infrastructure to onboard institutions into the world of digital assets. A key part of this is ensuring we have access to high-quality price data from reputable sources.
Today, we are excited to announce that Domani Protocol will be integrating Chainlink decentralized oracle networks to source crypto asset prices for our platform. Chainlink is the industry-standard for sourcing real-world data on-chain in a secure and reliable manner. By using Chainlink’s decentralized Price Feeds, we can track the prices of supported crypto assets with the quality and tamper-resistance required for institutional use cases.
Why Chainlink for Price Feeds?
As Domani aims to bridge traditional finance and decentralized finance, it is critical that our protocols are powered by high-integrity data sources. Chainlink’s Price Feeds are sourced from numerous premium data aggregators, leading exchanges, data providers, and node operators, ensuring price data is resistant to single points of failure or manipulation.
Additionally, Chainlink oracle networks are decentralized at the data source, oracle node, and oracle network levels, creating a robust system with parallel and redundant components. Chainlink’s proven track record of reliable real-world data delivery made them an ideal choice for Domani’s price feed requirements.
Remaining Oracle-Less
It’s important to note that while Domani is leveraging Chainlink’s oracle infrastructure for off-chain pricing data, our core protocol will remain oracle-less and rely on native on-chain data wherever possible. This allows us to retain cost efficiency and eliminates any third-party dependencies or potential centralization risks for critical on-chain functions.
Integrating market-leading oracle solutions is another key step towards making Domani the go-to institutional gateway to decentralized finance.
Stay tuned for more updates as our integration efforts progress.
